BANK NIFTY.... THE FALL CONTINUES.....
Updated
I sincerely appreciate all the support thus far!
Here are my insights on the Bank Nifty through Elliot Waves.
CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades.
We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The entire fall can be viewed as one full Elliot wave, and our current position aligns with the 3rd wave, specifically within wave (iv) of wave 3 (Explained in the chart).
Should my assessment prove accurate, we may anticipate wave (v) on Monday, potentially resulting in a substantial drop of 700 to 750 points. Following that, there can be a substantial recovery (wave 4).
Happy Trading!
Here are my insights on the Bank Nifty through Elliot Waves.
CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades.
We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The entire fall can be viewed as one full Elliot wave, and our current position aligns with the 3rd wave, specifically within wave (iv) of wave 3 (Explained in the chart).
Should my assessment prove accurate, we may anticipate wave (v) on Monday, potentially resulting in a substantial drop of 700 to 750 points. Following that, there can be a substantial recovery (wave 4).
Happy Trading!
Trade active
Now that's the wave 4 I talked about. A clear bullish day. Not sure how long this will last. Wave 5 fall should be on the cards. Already I had entered overnight short positions. Hopefully, the index falls tomorrow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.